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KCSMMHZ
Dec 26, 2012 6:00am PST
budget cuts and tax increases. obama is scheduled to return to washington on thursday in time to restart talks. the u.s. president is asking congressional executives to compile a compromise plan that features continued tax cuts for the middle class. that represents a shift in his policy that called for higher taxes on the wealthy, along with measures to cut the fiscal deficit. talks between democrats and republicans came to a standstill last week. a deal still remains uncertain. the republicans canceled a vote on their compromise plan. that's because many republicans remain opposed to any kind of tax hikes. >>> china has opened what it calls the world's longest high-speed rail line. the railway links the capital city of beijing and ghangzhou in the south. shun ishibe have more. >> reporter: the first high-speed train for beijing is about to leave guangzhou south railway station. many passengers are carrying coats, because the temperature in beijing is about 20 degrees centigrade lower than here in guangzhou. the new line stretches nearly 2,300 kilometers, including a section alre
KCSMMHZ
Dec 28, 2012 2:30pm PST
obama is set to meet with top republicans to discuss the nation's looming fiscal clit. white house aides have indicated that obama will discuss measures for avoiding the rest of the automatic spending cuts and tax hikes that will bite if lawmakers fail to come up with a plan. >> pessimism remains the prevailing mood in washington as the january deadline rapidly approaches. neither democrats nor republicans have any new proposals for a workable compromise. >> the starbucks coffee chain has urged its workers in washington, d.c., area to write "come together" on the cups, a plea for party leaders to work out a compromise, but some customers say that is not enough. >> i mean, i like with starbucks is riding on the cups. i wish they would write, like, something else, like "republicans, stop being stupid." >> i think the solution will probably be neutered and not very effective, but ultimately, i think they will avoid the fiscal cliff. >> but neither side appears willing to give in. democrats, for example, are frustrated that republicans will not agree to raise taxes on the wealthy. >> t
KCSMMHZ
Jan 1, 2013 2:30pm PST
crushing package of tax hikes and spending cuts. the deal still needs approval in the house. the u.s. is not out of the woods yet. >> president obama said the agreement fell short of what both sides wanted but that it was the right thing to do for the country. >> senators passed the bill with 89-8. after months of wrangling, lawmakers ended their deadlock. >> i know i can speak for my conference when i say we don't think taxes should go up on anyone. but if we knew if we did nothing they would be going up on everyone. >> the bill heads to the republican controlled house of representatives and could come to a vote later today but it is far from certain that it will pass. president obama urged members to back the deal though it falls short of what he originally sought. >> my preference would have been to solve all of the problems in the context of a larger agreement, bigger deal, a grand bargain, whatever you want to call it that solves our deficit problems in a responsible way. does not just deal with the taxes but deals with the spending so that we can put it behind us and focus on just
KCSMMHZ
Dec 31, 2012 5:30pm PST
from tax hikes. president barack obama gave a c year's eve. >> now today it appears that an agreement to prevent this new year's tax hike is within sight. but it's not done. there are still issues left to resolve, but we're hopeful that congress can get it done. >> senate republican leader mitch mcconnell said the two parties had reached an agreement on taxes. they are believed to have agreed to extend tax cuts for middle income earners. people earning more than $450,000 per year will see their taxes go up. that's far higher than obama's original proposal. they have yet to agree to suspend spending cuts. the democrat led senate is expected to pass the bill on new year's eve. the republican led house says it will not vote on the bill before the midnight deadline. members of congress are expected to work on a stop gap measure to prevent any serious fiscal impact. the fiscal cliff has become a term many people even outside the financial markets are talking about. if the u.s. economy falls off this cliff, ripple effects are expected. >> reporter: the term fiscal cliff has been m
KCSMMHZ
Jan 1, 2013 6:00am PST
year will pay more taxes. that's $200,000 higher than the threshold president barack obama originally proposed. that is the senate deal postponed by two months, the spending cuts that are scheduled to start on january 1st. the senate passed the bill on two tuesday, two hours after the december 31st deadline. members of the republican-led house of representatives will vote on the bill on tuesday. lawmakers are expected to work on a stopgap measure to ensure the impact of the suspended tax cuts is minimal. >>> doctors treating hillary clinton say they have found a blood clot between her brain and skull. but they say she is making an excellent recovery. staff at a hospital in new york issued a statement on monday, a day after clinton arrived for treatment. last month, doctors diagnosed her with a concussion after a stomach virus caused her to become dehydrated and faint. she had been resting at home since then. medical personnel say an mri revealed a clot in a vein between clinton's right here but they say she did not suffer a stroke or any neurological damage. they say she is
KCSMMHZ
Dec 28, 2012 5:30pm PST
, but he's got a backup plan if they can't. obama wrapped up a meeting at the white house with congressional leaders. they're trying to find a way to head off automatic tax increases and spending cuts that take effect in the new year which economists warned could trigger a recession. >> we're now at the point where in just four days, every american's tax rates are scheduled to go up by law. every american's paycheck will get considerably smaller. and that would be the wrong thing to do for our economy, it would be bad for middle class families, and it would be bad for businesses that depend on family spending. fortunately, congress can prevent it from happening if they act right now. i just had a good and constructive discussion here at the white house with senate and house leadership about how to prevent this tax hike on the middle class. and i'm optimistic we may still be able to reach an agreement that can pass both houses in time. >> the president obama says if time runs out, he will urge democratic senators to put forward a basic package for a vote. obama has been pushing
Search Results 0 to 5 of about 6